Kingdom Holding Company has signed a binding agreement to acquire 70% of Al Hilal Club Company from PIF for SAR840 million.
The deal is based on an implied enterprise value of SAR1.4 billion and an equity valuation of SAR1.2 billion for 100% of the club company.
PIF said it will remain a shareholder after the transaction closes, subject to regulatory approvals and other conditions.
Al Hilal’s reported revenue rose from SAR413 million in 2023 to SAR659 million in 2024 and SAR842 million in the year ended June 30, 2025.
The transaction fits Saudi Arabia’s wider sports privatization strategy, after PIF took ownership positions in major clubs in 2023.
Kingdom Holding signs Al Hilal stake deal
Kingdom Holding Company, chaired by Prince Alwaleed bin Talal, has signed a binding share sale and purchase agreement with the Public Investment Fund to acquire a 70% stake in Al Hilal Club Company for SAR840 million. PIF said the deal values the company at SAR1.4 billion on an enterprise basis.
The transaction remains subject to regulatory approvals and other closing conditions. PIF said it will remain a shareholder in Al Hilal after completion.
A major Saudi sports investment move
The deal gives Kingdom Holding control of one of the best-known football brands in Saudi Arabia and the wider region. PIF said Al Hilal has benefited from governance, operational, and infrastructure improvements since the fund became the club’s major shareholder in July 2023 under the Saudi sports clubs investment and privatization project.
KHC is financing the acquisition through its internal resources, according to market reporting that cited the company’s disclosure.
“Al-Hilal is a national symbol and a source of pride for the Saudi people,” Prince Alwaleed bin Talal said in PIF’s statement announcing the agreement.
Al Hilal’s business growth supported the valuation
The valuation comes after strong reported revenue growth at Al Hilal Club Company. According to reporting on the company disclosure, revenue rose from SAR413 million in the year ended June 30, 2023, to SAR659 million in 2024 and SAR842 million in 2025.
PIF said its work with the club helped improve commercial returns through sponsorships, merchandise sales, and matchday revenue. Kingdom Holding said the acquisition fits its push into high-growth sectors linked to Saudi Vision 2030.
What the deal signals
The transaction shows how Saudi Arabia’s football privatization drive is moving into a new stage, where sovereign capital can begin recycling assets to private investors while still keeping strategic exposure. That interpretation is based on PIF’s stated goal of maximizing returns and redeploying capital within the domestic economy, alongside its decision to remain a shareholder.
Key facts:
Buyer: Kingdom Holding Company
Seller: Public Investment Fund
Stake sold: 70%
Deal value: SAR840 million
Implied enterprise value: SAR1.4 billion
PIF status after closing: Remaining shareholder
